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November 19, 2014

Q3 Retail Same Store Sales Report: 50% Beat Estimates, 47% Fall Short

by Jharonne Martis.

Thirty-six retailers have reported Q3 Same Store Sales (SSS), with 50% exceeding estimates, 47% missing their targets, while 3% were in line. Major winners include Costco, Walgreen and Home Depot, while the only good news for Coach was that its massive sales decline was not quite as bad as it had predicted.

Here are the winners and losers so far:

Fall short 1

Source: I/B/E/S data

Q4 guidance

Looking at earnings, companies are already warning us not to expect too much from them in the fourth quarter. In our retail universe, there have been 21 negative EPS pre-announcements for Q4 2014 compared to two in-line and four positive EPS pre-announcements.


Fall short 1

Q3 earnings 2014

Of the 95 retailers and restaurants that have reported Q3 earnings, 62% exceeded estimates, 33% missed and 5% were in line. On the revenue side, 52% exceeded estimates, 44% missed and 2% were in line.


Fall short 2

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